NAEA: Housing demand up 22% in January
The number of house hunters registered per estate agent branch increased by 22% in January, according to NAEA Propertymark.
This rise represents an increase from 313 in December 2019 to 382 last month.
On an annual basis housing demand is up by 29%, comparing January 2019 and January 2020.
Looking at the supply of available housing, the number of properties available per member branch dropped from 41 to 38 month-on-month.
Year-on-year, supply is up from the average of 36 noted in January 2019.
Sales agreed per member branch rose from six to eight between December 2019 and January 2020.
Annually, sales also rose, increasing from seven sales seen in both January 2018 and January 2019.
Meanwhile, sales to first-time buyers remained the same at 29% month-on-month, however, increased three percentages points on January 2019.
Mark Hayward, chief executive at NAEA Propertymark, said: “It’s positive to see the New Year has brought some much-needed confidence to the market, with a significant increase in demand from house hunters following the General Election result.”
“As the Spring Budget fast approaches, we hope to see housing as a priority for the new Chancellor.
“A clear strategy is needed to tackle key issues such as stamp duty costs, which needs to be addressed in its entirety to encourage more frequent moves, improve affordability and relax punitive financial tax on home movers.”